Arm is at the forefront of the digital revolution and its technologies have shipped in more than 130 billion advanced computing devices from smartphones to satellites and supercomputers. Its designs powered the mobile computing revolution and are now pushing a Fifth Wave of Computing transformation that is catalysing the Internet of Things, Artificial Intelligence and 5G. Alongside its traditional chip technology design business, Arm is now also providing device management, connectivity and data solutions that are unlocking the value from the huge volumes of new data being created. It is a company filled with amazing people doing amazing things, and to recognize that it wanted to do something rather special for its employees.
To keep its people energized and motivated, Arm offers many benefits (gym, healthcare, very competitive salaries) but there is one that has really captured the imagination of everyone that works at the company. That benefit is one purpose-built to support people financially and from a well-being perspective. It is the Arm FlexPot.
Arm has an extraordinarily diverse mix of employees spread across 22 countries. Their interests are naturally extremely broad; inside and outside work. Following Softbank’s acquisition of Arm in 2016, Arm saw an opportunity to tailor their reward offering in order to emphasise and improve the focus on their unique culture through co-investing in things that mattered to all their people. The Reward team wanted to enhance and evolve its approach to reward, fully engage employees and be truly leading in the tech sector. However, given how much diversity is valued at Arm, a one-size-fits-all solution was not going to work. By consulting with their employees, it became apparent that they wanted flexibility and choice in their reward offering, allowing them to take advantage of things that really make a difference to their lives.
In November 2017, Arm partnered with Thomsons to implement global benefits technology Darwin™. Using the platform’s Reimbursement Manager, Arm introduced FlexPot - a unique annual pot of money available to all of their colleagues to spend on their own wellbeing. People were able to claim for a number of varied activities across wellbeing and development to support themselves and their families, including further education, long-term saving, supporting family members through education or getting on the property ladder.
Arm wanted to offer flexibility to support employees’ work-life balance and maintain their already high employee engagement rate. By allowing colleagues to choose how to spend their FlexPot, including donating money straight to charity, they remained aligned to their Core Beliefs, encouraging their people to ‘Be their brilliant selves’.
By offering FlexPot, Arm achieved its objective of offering flexibility and providing a truly personalized experience. As a result, 96% of the total available funds were spent on employee claims last year. Arm approved 98% of the claims made by employees, proving just how flexible the pot really is. Notably 80% of claims were for wellbeing, including; child care, gym memberships and financial wellbeing elements such as student loan repayments or retirement plan contributions. The other 20% of claims were for personal development such as learning a language, academic study and cooking classes.
Arm’s recent employee engagement survey found that overall engagement with the company’s reward offering increased by 5%, a true testament to the effectiveness of the program.
Partnering with Thomsons has allowed us to further enhance our global reward offering around wellbeing and development. Seeing the increase to our employee engagement further proves that FlexPot is a fantastic and very well-received benefit our colleagues and their families take full advantage of.
of total funds were spent on employee claims
of claims were for employee wellbeing
of claims were for personal development
increase for their employee engagement
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